Gen Digital Raises $950 Million in Senior Notes Offering to Strengthen Cybersecurity Leadership
Gen Digital, a leading global cybersecurity firm, has recently announced the pricing details for its substantial $950 million senior notes offering. This initiative underscores the company’s commitment to enhancing digital safety and protecting the identities of its nearly 500 million users worldwide.
Details of the Senior Notes Offering
The $950 million senior notes will carry an interest rate of 6.25% and are set to mature in 2033. These notes will be offered through a private placement, with the closing date expected on February 13, 2025, pending standard closing conditions.
Eligibility and Regulations
The offering is exclusively available to qualified institutional buyers under Rule 144A of the Securities Act and to non-U.S. investors under Regulation S.
About Gen Digital’s Cybersecurity Brands
Gen Digital operates a robust portfolio of renowned cybersecurity brands, including:
These products are meticulously designed to protect users from various digital threats, ensuring privacy and security across multiple platforms.
Use of Proceeds
The funds generated from this offering, combined with existing cash reserves, will be utilized to repurchase all outstanding 5.00% senior notes due in 2025, which includes covering any accrued and unpaid interest.
For more information about Gen Digital’s range of cybersecurity solutions, visit their official site at Gen Digital.
